> However, I think realtors have a demographic tidal wave about to hit them, consisting of first-time young home buyers and some slightly older home sellers who are used to doing things online and want nothing to do with realtor-mediated transactions ... or will scoff at the ridiculously high fees charged by brokers.
No way. Find me the mythical millennial who wants to deal with a first-party negotiation.
In some fantasy land where you ride your unicorn to work and shop for pre-fabricated houses on Amazon.com, sure. The reality is that your bank demands due diligence, houses are always in some state of disrepair, and nobody wants to deal with that.
I get the due diligence part, which is where lawyers and inspectors come in. Not convinced realtors have to be the middleman facilitating those necessary transactions, let alone showing a home, making sure offers get to the seller, generating a list of comps from a database, etc., and charging huge fees to do it.
The buyer doesn't see the cost, although 3% goes to the buyer's agent, it all comes out of the seller's proceeds. As such, there's a lot less incentive for a buyer to go without an agent.
No way. Find me the mythical millennial who wants to deal with a first-party negotiation.
In some fantasy land where you ride your unicorn to work and shop for pre-fabricated houses on Amazon.com, sure. The reality is that your bank demands due diligence, houses are always in some state of disrepair, and nobody wants to deal with that.